Groupon's IPO could set the stage for Zynga -- the gaming company filed in June and is rumored to start trading this month -- and serve as an indicator of the overall IPO market. Print Comment. Did Apple save Dr. Dre and Jimmy Iovine just in time?
How to make good TV for the web, according to Amazon. Tech Jobs. See all jobs. The high cost of autism. We are always reinventing ourselves We are unusual and we like it that way," adding "Life is too short to be a boring company. July Groupon's S-1 filing came under scrutiny from the Securities and Exchange commission for an unusual accounting metric called "Adjusted Consolidated Segment Operating Income," which calculates revenue without first debiting expenses like marketing and advertising.
The SEC demanded the company revise the bizarre accounting metric, and Henry Blodget, editor of Business Insider, applauded the decision, declaring , "Chalk one up for the good guys in the war against bullshit accounting.
August Potentially violating an SEC-mandated quiet period in which a company must refuse to speak to the press, Andrew Mason sent out a 2,word e-mail that quickly circulated in media. Many were quick to criticize Mason for this stunt, and his reputation took yet another blow. Analysts were quick to zero-in on Mason's behavior as a cause of the sudden cancellation. September More red flags. Groupon's chief operating officer Margo Georgiadis abruptly left Groupon, becoming the second COO to leave the company in just six months.
Groupon representatives did not make Williams available to comment but shared this statement, attributed to him, by email: "Overall, I'm incredibly pleased with our progress this year in focusing and growing the business. The proof is in the numbers — more than 3 million new customers, a more effective global footprint and an improved margin profile in our Shopping business.
Now, we're focused on continuing that operational success through the holiday season. During Williams' tenure, Groupon stock has had a bumpy but — until last week — mostly upward trajectory. The stock really started climbing in late July, when Groupon announced strong earnings. Tom White, an analyst who covers Groupon for Macquarie Capital, attributed the company's improved performance over the past year in large part to the new management team.
He said Williams' strategy of focusing and streamlining the business is a good one. A recent change in the company's stock structure could make acquisition or another investor action more likely. But while Groupon is on the right track, it probably isn't attracting buyer interest yet, he said. On Monday, Groupon completed a planned conversion of its stock from two classes to a single common class.
That gives its largest shareholders much less voting power; previously, each Class B share came with votes, while common stock got one vote per share.
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